%Plots the welfare gains to arbitrage for all 5 currencies over the period
%for which we have microstructure estimates (late 2019-early 2021)
function fig_CIP_welfareVaryingFixedBeta(datesExtras, selectorNonHolidays, WelfareArbs, betaLevel, optfig)

betaLevels = (0.3:0.025:0.6)';

if optfig.plotfig == 1
    
    [fontname,dimension,lw,folder,color,style,marker,markersize,fontsize_tit,fontsize_ax,fontsize_lab,fontsize_leg] = fn_optfig(optfig);
    
    f0 = figure('Units','inches','Position',dimension);
    
    plot(datesExtras(selectorNonHolidays,:),-WelfareArbs(:,betaLevel*2-1),'Color',color{1},'LineStyle',style{1},'LineWidth',lw); hold on;
    plot(datesExtras(selectorNonHolidays,:),-WelfareArbs(:,betaLevel*2-1+1*2*size(betaLevels,1)),'Color',color{3},'LineStyle',style{2},'LineWidth',lw); hold on;
    plot(datesExtras(selectorNonHolidays,:),-WelfareArbs(:,betaLevel*2-1+2*2*size(betaLevels,1)),'Color',color{4},'LineStyle',style{3},'LineWidth',lw); hold on;
    plot(datesExtras(selectorNonHolidays,:),-WelfareArbs(:,betaLevel*2-1+3*2*size(betaLevels,1)),'Color',color{5},'LineStyle',style{4},'LineWidth',lw); hold on;
    plot(datesExtras(selectorNonHolidays,:),-WelfareArbs(:,betaLevel*2-1+4*2*size(betaLevels,1)),'Color',color{6},'LineStyle',style{5},'LineWidth',lw); hold on;

    dateaxis('x',2)
    ytickformat('$%gM')
    xlabel('Date','interpreter','latex','FontSize',fontsize_ax,'FontName',fontname)
    ylabel('Welfare Gains (millions of USD)','interpreter','latex','FontSize',fontsize_ax,'FontName',fontname)
    title(strcat('Welfare Gains for $\beta$ = ',num2str(betaLevels(betaLevel,1))),'interpreter','latex','FontSize',fontsize_tit,'FontName',fontname)
    grid; axis tight; box off;
    
    legendCell = {'AUD', 'GBP', 'CAD', 'EUR', 'JPY'};
    legend(legendCell,'interpreter','latex','FontSize',fontsize_leg,'FontName',fontname,'Location','best')
    legend boxoff
end

name = strcat('02_WelfareGains',num2str(1000*betaLevels(betaLevel,1)));
print(f0,'-depsc','-painters','-noui','-r600',[folder,name,'.eps'])

end